GAMMA Investing LLC Grows Holdings in Crane NXT, Co. (NYSE:CXT)

GAMMA Investing LLC grew its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 5,320.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,948 shares of the company's stock after purchasing an additional 131,477 shares during the quarter. GAMMA Investing LLC owned approximately 0.23% of Crane NXT worth $6,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its stake in Crane NXT by 3.0% in the fourth quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock worth $339,000 after acquiring an additional 168 shares during the period. Covestor Ltd lifted its position in shares of Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after purchasing an additional 206 shares during the period. Amalgamated Bank boosted its stake in shares of Crane NXT by 1.0% during the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company's stock valued at $1,336,000 after purchasing an additional 233 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Crane NXT by 1.2% during the fourth quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock valued at $1,231,000 after purchasing an additional 254 shares in the last quarter. Finally, Xponance Inc. increased its holdings in Crane NXT by 6.2% during the fourth quarter. Xponance Inc. now owns 5,587 shares of the company's stock valued at $325,000 after buying an additional 328 shares during the period. Institutional investors own 77.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CXT. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. UBS Group reduced their price objective on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. DA Davidson lowered their target price on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target on the stock. in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Performance

CXT stock traded down $0.50 during trading on Thursday, reaching $55.19. The company had a trading volume of 201,693 shares, compared to its average volume of 397,291. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 17.30 and a beta of 1.30. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The firm has a 50-day simple moving average of $49.83 and a 200-day simple moving average of $55.66.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The business had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT's payout ratio is 23.37%.

About Crane NXT

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers' important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.